Minutes for Pension Committee meeting, Jun 9 2011, 6.00PM official page

The last set of minutes from the Pension Fund Working Party are attached for information.

 

There will be a presentation by the Investment Consultant.

 

Performance for quarter ending 31 March 2011 and for the last twelve months – Report of the Strategic Director Resources.

 

Newton Investment Managers – Charlotte Ryland and David Moylett

Legal and General Investment Managers – Stephen Castle

 

(Two bound reports will be sent separately to this agenda)

a)     Aviva Property

b)     Global equities

c)      Absolute return

d)     Infrastructure.

 

The attached report was presented to the Audit Committee on 28 April 2011 where the report was noted.  It was also noted that the Pension Fund Working Party was to be a full committee and that the level of fees should be taken up by this committee.

 

Report of the Strategic Director Resources.

The Committee are recommended to note the progress on the M&G UK Companies Fund.

 

1.1 As at 31 March 2011 the overall M&G UK Companies Fund size remained at £1,540.25m. As set out in para 2.2 of the Investment Performance report elsewhere on this agenda, Sutton’s current investment with the Fund was valued at £2.676m at 31 March 2011. This is out of a total agreed facility to invest up to £10m cash.

 

1.2 M&G requested a sixth drawdown of £649,245.25 which was paid on 22 April 2011. 

 

Report of the Strategic Director Resources.

To note that the next meeting will be held on Thursday 8 September 2011.